Tax Tips for Hurricane Sandy Survivors

With the tax deadline of April 15th rapidly approaching here are some tax tips from FEMA if you experienced a loss due to Hurricane Sandy.

Personal property losses that are not covered by insurance or other reimbursements may be deductible on your tax return.

You can download forms and publications with information on tax relief from the official IRS website, IRS.gov, or order them by calling 800-TAX-FORM. The IRS toll-free number for general tax questions is 800-829-1040.

If you're in a federally declared disaster area, you have the option of claiming disaster-related casualty losses on their federal income tax returns for either this tax year (2012) or the previous tax year (2011).

If you reside outside the disaster area but your books, records, or tax professionals are located in the areas affected by Hurricane Sandy you may also be eligible for tax relief.